Omeros (NASDAQ:OMER) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Omeros Co. (NASDAQ:OMER - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.87 and traded as high as $9.01. Omeros shares last traded at $8.52, with a volume of 509,150 shares.

Analyst Upgrades and Downgrades

OMER has been the topic of several analyst reports. D. Boral Capital restated a "buy" rating and issued a $36.00 target price on shares of Omeros in a research report on Thursday, February 20th. Needham & Company LLC reissued a "hold" rating on shares of Omeros in a report on Friday, January 17th. RODMAN&RENSHAW raised shares of Omeros to a "strong-buy" rating in a report on Thursday, November 14th. StockNews.com raised shares of Omeros from a "sell" rating to a "hold" rating in a research note on Wednesday, November 20th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Omeros in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.50.

Omeros Stock Down 2.3 %

The company has a 50 day moving average of $9.21 and a two-hundred day moving average of $6.99. The firm has a market cap of $462.44 million, a P/E ratio of -3.45 and a beta of 1.98.

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Hedge Funds Weigh In On Omeros

Large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Omeros by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,831 shares of the biopharmaceutical company's stock worth $314,000 after buying an additional 1,110 shares during the last quarter. Truvestments Capital LLC grew its holdings in shares of Omeros by 116.5% in the 4th quarter. Truvestments Capital LLC now owns 3,102 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 1,669 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Omeros by 79.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,467 shares of the biopharmaceutical company's stock worth $44,000 after purchasing an additional 1,972 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Omeros by 2.0% during the fourth quarter. Ameriprise Financial Inc. now owns 120,493 shares of the biopharmaceutical company's stock valued at $1,190,000 after purchasing an additional 2,317 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Omeros by 9.9% in the 4th quarter. Cerity Partners LLC now owns 28,989 shares of the biopharmaceutical company's stock valued at $286,000 after purchasing an additional 2,600 shares during the period. Institutional investors own 48.79% of the company's stock.

About Omeros

Omeros Corporation, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting immunologic diseases, including complement-mediated diseases, cancers, and addictive and compulsive disorders. The company's products under development include Narsoplimab (OMS721/MASP-2) that has completed pivotal trial for hematopoietic stem-cell transplant-associated thrombotic microangiopathy (TA-TMA); that is in Phase III clinical trial for the treatment of immunoglobulin A nephropathy (IgAN); and Phase II clinical trial to treat COVID-19.